Great Bend Economic Development INC FY2020 filing

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The corporation is organized to promote and support Economic Development for the benefit of all citizens of Great Bend, KS and the surrounding area. To recruit and retian industrial, retail and other businesses to Great Bend, KS and surrounding area. To encourage and support entrepreneurship and business Development in Great Bend, KS and the surrounding area. To create and utilize Economic metrics and indicators. To conduct related Economic Development and to conduct marketing, fostering communication with targeted businesses and industries.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
99¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $181K a year · 30% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
18 mo
of spending, in cash
Looks good: 17.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2K
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$233K
Spent
$90K
To programs
99%
Net assets
$143K
By yearFY2020–FY2024
Revenue
$233K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$233K
FY2021$340K
FY2022$894K
FY2023$792K
FY2024$805K
Expenses
$90K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$90K
FY2021$215K
FY2022$415K
FY2023$475K
FY2024$965K
Net assets
$143K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$143K
FY2021$268K
FY2022$563K
FY2023$880K
FY2024$720K

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 2020.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $89K Management & general 1% · $725

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
Director
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
See Great Bend Economic Development INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Promotes and supports economic development by attracting and retaining businesses, and encouraging entrepreneurship.

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1 program · in their own filed words · FY2020
01

The corporation is organized to promote and support economic development for the benefit of all citizens of great bend, KS and the surrounding area. To recruit and retian industrial, retail and other businesses to great bend, KS and surrounding area.

Pt IX · col B

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$233K
Ln 12
Gifts and grantsLn 1h$232K
Investment incomeLn 3$522
Money outPt IX
$90K
Ln 25
Programscol B$89K
Managementcol C$725
Owns and owesPt X
$143K
net assets · Ln 32
Cash and savingsLn 1–2$131K
Total assetsLn 16$145K
LiabilitiesLn 26$2K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$232K
Government grantsLn 1e$232K
Investment incomeLn 3$522
Total revenueLn 12$233K
Assets in detailPt X, end of year
CashLn 1$4K
SavingsLn 2$126K
Cash and savings togetherLn 1–2$131K
Land, buildings, equipmentLn 10c$14K
Total assetsLn 16$145K
LiabilitiesLn 26$2K
Net assetsLn 32$143K
OperationsPt I, VI
EmployeesI 52
VolunteersI 610
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$131K
Land, buildings, equipmentLn 10c$14K
Total assetsLn 16$0$145K
LiabilitiesLn 26$0$2K
Net assetsLn 32$0$143K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$72K$72K
Other employee benefitsLn 9$3K$3K
Accounting feesLn 11c$725$725
Other fees for servicesLn 11g$3K$3K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$2K$2K
OccupancyLn 16$705$705
TravelLn 17$741$741
Conferences, conventions and meetingsLn 19$1K$1K
Depreciation, depletion and amortizationLn 22$1K$1K
InsuranceLn 23$3K$3K
Total functional expensesLn 25$90K$89K$725$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $805K$965K−$160K$720K 990 PDF
FY2023 $792K$475K$317K$880K 990 PDF
FY2022 $894K$415K$479K$563K 990 PDF
FY2021 $340K$215K$125K$268K 990 PDF
FY2020 Viewing $233K$90K$143K$143K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $232,522 revenue, 12 lines filed
I-8 Contributions and grants$232,000
I-9 Program service revenue$0
I-10 Investment income$522
I-11 Other revenue$0
I-12 Total revenue$232,522
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$75,055
I-16a Professional fundraising fees$0
I-17 Other expenses$14,453
I-18 Total expenses$89,508
I-19 Revenue less expenses$143,014
Part VI · Governance 5 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $232,522 across 4 lines filed
VIII-1e Government grants$232,000
VIII-1h Total contributions, gifts and grants$232,000
VIII-3 Investment incomeRelated to mission $522$522
VIII-12 Total revenueRelated to mission $522$232,522
Part IX · Statement of functional expenses $89,508 across 11 lines filed
IX-7 Other salaries and wagesPrograms $71,574$71,574
IX-9 Other employee benefitsPrograms $3,481$3,481
IX-11c Accounting feesManagement $725$725
IX-11g Other fees for servicesPrograms $2,506$2,506
IX-12 Advertising and promotionPrograms $2,179$2,179
IX-13 Office expensesPrograms $2,367$2,367
IX-16 OccupancyPrograms $705$705
IX-17 TravelPrograms $741$741
IX-19 Conferences, conventions and meetingsPrograms $1,077$1,077
IX-22 Depreciation, depletion and amortizationPrograms $1,202$1,202
IX-23 InsurancePrograms $2,951$2,951
IX-25 Total functional expensesPrograms $88,783 · Management $725 · Fundraising $0$89,508
Part X · Balance sheet $144,940 assets, 9 lines filed
X-1 Cash, non-interest-bearing$4,485
X-2 Savings and temporary cash investments$126,343
X-10c Land, buildings and equipment, net$14,112
X-16 Total assetsStart of year $0$144,940
X-17 Accounts payable and accrued expenses$1,926
X-26 Total liabilitiesStart of year $0$1,926
X-27 Net assets without donor restrictions$143,014
X-32 Total net assets or fund balancesStart of year $0$143,014
X-33 Total liabilities and net assetsStart of year $0$144,940
Part XI · Reconciliation of net assets $143,014 net assets at year end
XI-1 Total revenue$232,522
XI-2 Total expenses$89,508
XI-3 Revenue less expenses$143,014
XI-10 Net assets at end of year$143,014

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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